Bank of America Expands Reverse Mortgage Suite to Southeast

Until now, Bank of America has laid low on the reverse mortgage front ever since the acquisition of Seattle Mortgage was completed.  BofA recently announced that they are expanding its consumer reverse mortgage business to the Southeast, where it’s now offering its Senior Equity Reverse Mortgage™ Suite of products. “Our new combination of proprietary products […]

Reverse Mortgages Get More Love From The WSJ

The Wall Street Journal has written two articles about reverse mortgages in the last week and the second discusses some of the new product offerings that have become available. The article references Lender Lead Solutions new Simple60 as well as the new LIBOR products that have recently been rolled out. I’m out in San Diego […]

Countrywide Scales Back Reverse Mortgage Operations

Countrywide has had to make a lot of changes to their wholesale operations in the last six months and it looks like the heat from the subprime mess has affected their reverse mortgage operations as well.  Late on Thursday Countrywide announced that they would be modifying the way in which business partners obtain reverse mortgages.  […]

Sun West Mortgage Company Releases Simple HECM

Sun West Mortgage Company recently released their new LIBOR based HECM product, the Simple HECM™.  We’ve already seen LIBOR based HECM products from Lender Lead Solutions and Financial Freedom but the Simple HECM is a little bit different than the rest.  The Simple HECM is a lot like LLS’s LIBOR Flex Advantage product in the […]

LIBOR Flex Margin Advantage From Lender Lead Solutions

A few weeks ago, Lender Lead Solutions announced the release of the first LIBOR based HECM product, with hopes to eliminate the pricing instability the market is experiencing with CMT based HECMs.  “We believe the LIBOR 75 Flex Margin Advantage product is the best of both worlds,” said David Peskin, chief executive officer of Lender […]

Financial Freedom Releases LIBOR Based Reverse Mortgage

Financial Freedom has officially released their first LIBOR based HECM product.  LLS “announced” that they were the first to release a LIBOR product about a week ago.  Financial Freedom is calling the product the HECM Monthly Libor 65 which is related to the margin on the product. “We are focused on continually developing new products that […]

Lender Lead Solutions Releases Jumbo Reverse Mortgage Product

Lender Lead Solutions has been busy announcing new products like the LIBOR based reverse mortgage and now they have officially announced the release of their Equity Plus Advantage proprietary jumbo reverse mortgage product.  The new product is structured just like their Prime Advantage product which gives brokers flexibility with margins when working with seniors.    “With […]

Who Said The HECM 100 Was Dead?

Just when you thought the HECM 100 was really gone… Today, Financial Freedom announced that they plan to offer the HECM 100 indefinitely.  The announcement noted that over the past two weeks there has been an improvement in secondary market conditions in regards to CMT based HECM loans.  While the market has not yet completely […]

Top HECM Lenders in 2007

Below you will find the top HECM lenders in 2007 through the month of September.  Also be sure to check out the sample report which breaks down the top lenders even more at the bottom. 7,695 HECMs endorsed in September down from August and the lowest month so far in 2007. YTD total of 83,593, […]